Sikat Company provided the following data for the current year for the preparation of statement of cash flows using direct methodCash balance, beg2,000,000Cash paid to purchase inventory8,000,000Cash received from sale of trading securities3,000,000Cash paid for interest950,000Cash paid to repay loan1,500,000Cash collected from customers10,500,000Cash received from issuance of ordinary shares1,700,000Cash paid for dividend2,500,000Cash paid for income taxes1,850,000Cash paid to purchase trading securities1,500,000Net cash provided by operating activities is?

Solution: Net cash provided by operating activities = Cash collected from customers - Cash paid to…

Answered: Sikat Company provided the following…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

See similar textbooks

Related questions

Question

Sikat Company provided the following data for the current year for the preparation of statement of cash flows using direct method

Cash balance, beg	2,000,000
Cash paid to purchase inventory	8,000,000
Cash received from sale of trading securities	3,000,000
Cash paid for interest	950,000
Cash paid to repay loan	1,500,000
Cash collected from customers	10,500,000
Cash received from issuance of ordinary shares	1,700,000
Cash paid for dividend	2,500,000
Cash paid for income taxes	1,850,000
Cash paid to purchase trading securities	1,500,000

Net cash provided by operating activities is?

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions